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Are you seeing the price of silver jewellery going up, and wondering why? Our favourite lustrous metal is becoming more in demand, which brings mixed emotions - it may push silver out of your price range, or it may make you value your pieces even more!

The cost of silver as a semi-precious metal makes it more of a luxury these days, as global demand for metals increases for use in science and technological advancements. The price of silver is indexed as with other valuable resources such as gold, copper, silicone, and offers a temperature test against world events and the global economy.

How has the price of silver changed over the last two years?

The price of silver has experienced a significant rise over the past two years, which affects both the rate at which we purchase our silver, and the price at which we can sell them. We keep our prices as affordable as possible, but are greatly affected by the material cost of silver.

According to the Silver Institute World Silver Survey 2026, the silver market exploded during 2025. Starting the year at around $29 per troy ounce prices climbed throughout the year, breaking records and reaching approximately $84 per ozt in December. The annual average price rose by 42% compared with 2024, reaching just over $40 per troy ounce. A troy oz (ozt) incidentally, is an historic measurement for precious metals which is still in use today; it's thought to have originated from the French Merchant hub in Troyes in the Middle Ages. 

The upward trend in the price of silver continued into early 2026, reaching a monthly average of $92.10 per troy ounce in January 2026. Prices subsequently pulled back, averaging $64.60 in September 2026. This illustrates just how much movement there can be in the precious metals market!

For jewellery makers and independent silversmiths, these changes have a very real impact. The cost of sourcing sterling silver and other precious metal components can increase significantly when the underlying commodity price rises, and of course the skills that go into shaping the raw silver into a beautiful piece of jewellery are so important to us. Therefore, the final price of a piece of jewellery also reflects craftsmanship, design, production, sourcing and the time involved in making it.

The value of the materials and craftsmanship behind each piece is important to us at Silver Bubble. We work with talented Mexican silversmiths to bring distinctive, beautifully crafted silver jewellery to our customers, and changes in the silver market are an important consideration when sourcing and pricing our collections.

Silver remains a precious metal with global demand, and its price can fluctuate considerably. While nobody can predict exactly where prices will go next, the last two years have demonstrated how important the cost of precious metals has become for the jewellery industry.

Why is the Price of Silver Rising?

1 - Industrial Demand

It's amazing how much Silver is used across many industries, it's highly prized for its non-reactive properties. Silver is used in medicine for plasters and bandages to aid healing, in water purification and nanotechnology as an antimicrobial. Solar technology uses silver to convert sunlight into stored electricity.

Silver is also used in the production of electronics, due to its soldering and brazing properties for low temperature alloys. As our demand for technology continues to grow, so does the demand on these vital precious metals. Everyone's new favourite friend, AI, is dependent on silver; its indispensable for the hardware, data centres and power grids that run artificial intelligence models.

Silver is also used in electric vehicles due to his high conductivity, making it an excellent (if expensive!) component material for electronics and battery management systems. As range anxiety is key to consumer markets, if silver offers one of the answers to this aspect, manufacturers will explore it.

2 - Global Economy Shifts

The US has had quite the impact in global economics, not in the least through the Liberation Day Tariffs. Since the President's tariffs notoriously exempt precious metals; gold and silver have become the safest havens for wealth preservation, consequently driving up their prices

The extensive use of silver in industry, as well as its safe-haven status in terms of tariffs, means Investors are now turning toward this new-found potential, which drives up the price. The current chaotic landscape of geo-politics also encourages investors to turn to precious metals; they are tangible assets.

3 - Inflation

The cost of living has been rising dramatically for the last couple of years, and it's natural for commodities such as jewellery, and their raw materials to follow. The cost of mining, processing, smithing and marketing jewellery is all more than it was previously, which drives up the price of the end product.

So those are some of the reasons why the price of silver dramatically increase. But it's important for us to be honest and set out the challenges our family business is facing – so what are we're doing about it?

The Silver Bubble Promise

We want to share is that no matter what happens with the raw price of silver ore, that we will always bring you the highest quality jewellery and keep our prices sensible. That means charging a fair price for our pieces, after all of our costs have been considered.

The price of our products may rise, but it also means we can continue to provide our beautiful products sustainably.

We won't compromise on:

Fair WagesOur silversmiths always receive a fair wage, they are part of the Silver Bubble Family after all and their livelihoods are threatened!

Quality

We'll never revert to skimping on materials.

Integrity What you see is what you get - our pricing reflects the market, and all of the work that goes into each and every piece.

What can you do to get the best value for your money?

Our advice is to buy the best quality you can afford. You could spend more on one high quality pair of handmade silver earrings and get a lot of joy out of them or buy 4 pairs for the same amount which could irritate your ears, discolour or even break. Mass produced jewellery is likely to be thinner, or lacking quality control that leaves you with a product that is more 'fashion', less 'luxury'.

Silver Bubble Jewellery is crafted to last. This means that the pieces you bought from us in 2008 (yes, we've been going for a long time!) will still hold a value in terms of their weight in silver - but we're betting the sentimental value is even higher :)

We also recognise the need to diversify, so will be looking to source unusual and quality jewellery in more affordable metals –adding to our popular silver and copper collection and presenting new designs in artisans metalworking in brass.

Watch this space for news!